Home Depot reported a 2% year-over-year sales decline in the fiscal second quarter, despite beating Wall Street's earnings expectations for the first time in three quarters. The Atlanta-based retailer continued to see consumers' caution on larger tickets, discretionary spending and said some purchases had been made during the pandemic. In contrast, others are likely being deferred due to higher interest rates. The company reported earnings per share of $4.65 on revenue of $42.92 billion, compared to the expected $4.45 per share on $42.23 billion. Home Depot's net income was $4.66 billion, down from $5.17 billion a year earlier. The company's board approved $15 billion in share buybacks. Home Depot shares are up 4% this year, lagging behind the S&P 500's nearly 17% gain.